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Highlights:
• Strong market support for new Specialist Technology Company listing route to market
• New Rules to take effect on 31 March, welcoming applications from issuers operating in five frontier industries
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEX, announced today the expansion of Hong Kong’s listing framework for the listings of Specialist Technology Companies. A new chapter will be added to the Main Board Listing Rules (Listing Rules or Rules) on 31 March 2023, at which time companies seeking to list under the new chapter may submit a formal application.
Nicolas Aguzin
HKEX Chief Executive Officer
This is an exciting new development for Hong Kong’s equity markets. The new economy sector is rapidly changing the way in which we live and work, and this new route to market will support some of the most innovative and progressive companies of the future. At HKEX, we are committed to continuously supporting the needs of issuers and investors and this further builds on our 2018 listing reforms, which amongst other things, swiftly established Hong Kong as Asia’s premier biotechnology fundraising market. This new Specialist Technology chapter will support even more companies as they access capital to fund innovative ideas and growth
We would like to thank all those that provided feedback as this new route to market was drawn up, providing critical support as we take another step forward in shaping Hong Kong as the marketplace of the future.
The Exchange received 90 non-duplicate responses to the consultation on the new chapter from a broad range of respondents, including investment firms, professional bodies, prospective listing applicants, corporate finance firms and individuals.
Katherine Ng
Head of Listing, HKEX
Although we received majority support for most of our proposals, we have made some adjustments to the new Rules, reflecting market feedback, whilst continuing to ensure that our regulatory intentions remain undiminished.
A summary of the key differences between the consultation proposals and the requirements to be implemented is set out below:
Tap Read More for details.
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